Salem Investment Counselors Inc. Decreases Stake in Surmodics, Inc. (NASDAQ:SRDX)

Salem Investment Counselors Inc. reduced its position in shares of Surmodics, Inc. (NASDAQ:SRDX) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,750 shares of the company’s stock after selling 2,200 shares during the period. Salem Investment Counselors Inc.’s holdings in Surmodics were worth $4,504,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SRDX. Modus Advisors LLC purchased a new position in shares of Surmodics in the 4th quarter valued at $40,000. Quest Partners LLC grew its position in Surmodics by 107,100.0% in the 3rd quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock valued at $42,000 after buying an additional 1,071 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Surmodics in the 3rd quarter valued at $67,000. SG Americas Securities LLC purchased a new position in Surmodics during the 3rd quarter worth $220,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Surmodics in the 2nd quarter valued at approximately $229,000. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Surmodics Price Performance

Shares of NASDAQ SRDX traded down $2.43 during trading on Monday, reaching $36.01. The company had a trading volume of 363,421 shares, compared to its average volume of 284,307. The company has a current ratio of 3.96, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. Surmodics, Inc. has a twelve month low of $25.17 and a twelve month high of $42.44. The stock has a 50-day moving average price of $39.32 and a two-hundred day moving average price of $39.70. The stock has a market capitalization of $514.73 million, a PE ratio of -44.46 and a beta of 1.21.

Surmodics (NASDAQ:SRDX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.14. Surmodics had a negative return on equity of 3.79% and a negative net margin of 9.15%. The company had revenue of $33.23 million during the quarter, compared to the consensus estimate of $30.69 million. As a group, sell-side analysts predict that Surmodics, Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at Surmodics

In related news, CFO Timothy J. Arens sold 7,009 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $39.44, for a total value of $276,434.96. Following the transaction, the chief financial officer now owns 70,350 shares in the company, valued at approximately $2,774,604. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com initiated coverage on Surmodics in a report on Friday. They issued a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Surmodics in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $50.00.

Surmodics Profile

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).